UPDATE The Chinese-Venezuelan-Hunter Biden Laptop-Clinton Supreme Court (not our name, but the nomenclature used by Maga drones) has STRUCK DOWN most of the president's authority to impose tariff's based on countries that did not support his nomination for a Nobel Peace Prize.
Justice Roberts, along with Gorsuch and Coney were in the majority. Roberts wrote the opinion. Kavanaugh, Alito and Thomas in dissent which we will summarize: "Today we strike down an act of the President, something we promised not to do at our last federalist society meeting. If the court cannot keep it's word, the public will lose confidence in our ability to roll over when the president holds out a biscuit and orders us to do so."
Local effects; 1) A local lawyer "no pago esa tarriffs" has announced the first lawsuit to recover tariffs paid by consumers. Check your local bus bench. 133 billion is at stake to be returned and law firms everywhere have their calculators out "hmmmm 1/3 of a billion is....and multiply that by 133 is ...$$$$).
2) The eleventh judicial circuit (Miami-Dade) has issued an order to all Miami judges to NOT apply the decision of the Supreme Court as the court did not comply with the requirement to include the certification that no part of this decision was written by AI. The effects on the Homestead Branch Court (all tariff litigation all the time) is unknown but worrisome.
Markets have digested the decision without much movement downward. Upcoming: The President State of the Union is scheduled- the White House is busy UNINVITING six Supreme Court Justices.
We have some Friday math coming. But at the moment at 9:50 am we are monitoring the Supreme Court to see if the Tariffs opinion will be released. It is going to be a temporary market mover any way the decision goes.
6 comments:
They Shumie timed the tariffs. As predicted by the Shumie prediction markets.
Sell NVIDIA now? Hold? Buy more?
The other Mag 7? Space stocks? Bitcoin? SSSS?
Rumpole - please help.
That post tariff press conference by tRump was unhinged.
"Check," says the Supreme Court. The executive powers to tariff are limited. Whiney and red-faced, the Trumper goes into full loser mode. No make-up needed. Repentance is not a consideration.
You will not go wrong buying Nvidia below 200. Especially this week in the run up to earnings. And if your time frame is 3-5-10 years it’s more than a home run. But I also like Broadcom (Avgo) and META and maybe just maybe Apple’s strategy of not spending hundreds of billions in capex on AI infrastructure and just alleging with Google Gemini(which I love) will be seen as genius. So always buy some apple when you can. But yes - Nvidia should be 300 within 18 months. They just keep hitting it out of the ballpark. Its latest deal with Meta which I’m also a buyer of shows just how smart Jensen is.
Before I went to high school, I knew that only Congress levies taxes.
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